White House: Obama pledged tax hikes during campaign

Dec. 5, 2012
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President Obama / Pool

by David Jackson, USA TODAY

by David Jackson, USA TODAY

White House officials say it's no mystery why President Obama is insisting on higher tax rates for the top 2% of incomes.

He promised it during the campaign.

The president "was extremely explicit about this every day," said White House spokesman Jay Carney, saying higher taxes on the wealthy would bring in more revenue and help reduce the national debt.

And Obama defeated Republican challenger Mitt Romney in the election.

"The American people spoke very clearly about this matter on Nov. 6," Carney said.

Obama's pledge to raise taxes on the wealthy -- through eliminating the George W. Bush-era tax rates on high earners -- goes back to his first campaign for the presidency, back in 2008.

In late 2010, the White House agreed to a two-year extension of all the Bush tax cuts as part of an agreement that included other items sought by the administrations.

Congressional Republicans say Obama's tax plan will do little to dent a federal debt that now exceeds $16 trillion, and the president should be more concerned with meaningful spending cuts.

"An obsession to raise taxes is not going to solve the problem," said House Majority Leader Eric Cantor, R-Va. "What will solve the problem is doing something about the entitlements and taking on the wasteful spending in Washington."